The Daily Briefing For August 17th: Futures Higher, Democrats Convention This Week
Covid-19 Update With Latest Data
Cases reported 43,008 from 51,705
Tests 777,560 from 880,729
Positivity Rate 5.53% from 5.87%
Deaths 629 from 1,163
Hospitalizations 44,029 from 47,252
Mortality Rate at 3.08% from 3.12%
source COVID tracking project
Secondaries Priced: None of note.
Notes Priced of note: None of note.
Common Stock filings: VCNX TLND (selling shareholder) INSG (selling shareholder) of note.
Mixed Shelf Offerings: MDU PLSE CFRX of note.
Convertible Offering Files: None of note.
Senior Notes Filed: None of note.
Courtesy of IPO Financial
Earnings After The Close:
None of note.
None of note.
Hourly Tracking – Updated Through 8/13. One extreme or the other this week.
News After The Close:
Lots of 13F updates on Friday after the close. Warren Buffet takes a stake in Barrick Gold (GOLD). We are linking to Hedgefund Telemetry who has detailed analysis of 13Fs.
Department of Justice (DOJ) goes after Centurylink (CTL).
Lockheed Martin (LMT) wins 10 year $62 billion contract on F-16s. Taiwan also buys 66 F-16s which will inflame U.S. and China relations.
Ratings agency affirms Sweden rating at AAA/A-1+, Hungary at BBB/A-2, Lithuania A+/A-1.
Fitch also affirms Hungary at BBB and adds Georgia at BB.
President Trump signs Executive Order requiring TikTok to divest U.S. operations in 90 days.
House Speaker Pelosi calls back House Democrats to deal with Post Office funding.
Rolling power outages in California this weekend affecting 2 million.
Barron’s + on AMZN GOOGL AZO BKNG CMG NVR MRK TGT ZTS REGN and cautious onCSCO.
Raises Guidance Raised:
Raises Dividend: CBOE
Stock Split Announcement:
What’s Happening This Morning: Futures value reflects the change with fair value. We will still indicate the fair value direction.
S&P 500 +10 Dow Jones Industrial Average +38 NASDAQ +70 Russell 2000 +5.72. Fair values are mixed. Asia mixed and Europe higher. VIX September futures are at 26.49 from 27.22 this morning. Current VIX is at 22.05 from 2.13.
Gold, silver and copper higher. WTI Crude Oil and Brent Oil Futures lower. Natural Gas is higher. $ is lower vs Euro, higher vs Pound and lower vs Yen. US 10 year Treasury price is at $139.31 from $139.06 with yields at 0.688% from 0.708%.
Positive Sectors On Friday: Industrials, Materials and Energy.
Negative Sectors On Friday: Utilities, Healthcare and Communication Services of note.
One Month Winners: Materials, Consumer Cyclical and Technology of note.
Three Month Winners: Consumer Cyclical, Technology and Materials of note.
Six Month Winners: Technology,Consumer Cyclical and Healthcare of note.
Twelve Month Winners: Technology, Healthcare, Consumer Cyclical and Communication Services of note.
Year to Date: Technology, Consumer Cyclical, Healthcare and Communication Services of note.
Upcoming Earnings Of (sorted by market cap, highest to lowest)
Today After The Close: FN BEST of note.
Tuesday Morning: WMT HD SE AMCR GDS AAP KC KSS LX SFL of note.
Earnings This Morning Of Note
JD +0.88 of note.
None of note.
Still to Report:
Erlanger Research Advance/Decline Line Chart – We are no longer showing our proprietary advance/decline model as it is available on a subscription basis. Instead we are now showing a chart of the advance/decline. We hope you enjoy. Close 8/12.
Courtesy of Phil Erlanger Research Inc.
Rags & Mags: Highlighted Stories may be clicked through to the original story.
5 Things To Know To Start Your Day (Bloomberg)
5 Things to Know Before The Market Opens On Friday. (CNBC)
Stocks Making The Biggest Moves. (CNBC)
Coronavirus Update: CA tops 600,000 cases, vaccine deals reviewed. (CNBC)
CDC updates guidance on Covid-19 for children. Nothing of note as children get less than adults and hospitalized at much lower rate. (CDC Release)
Trump Administration tightens restrictions on Huawei related to semiconductor purchases. (Reuters)
Commerce Department adds 38 affiliates of Huawei to restrictions.
In Fox interview the president notes that China living up to Phase I of the U.S. China Trade Deal on ag purchases.
Sanmina (SANM) CEO Hartmut Liebel leaving immediately and Executive Chairman Jure Sola to reassume Chairman and CEO position.
Pinduoaduo (PDD) to join NASDAQ 100 on Friday.
Germany launches new investigation into Amazon (AMZN). (Retuers)
Stock Index Trading
Current through 8/13 close. All indexes are back above their respective moving averages.
Bold means a change from prior day.
Algo/HFT Trading Levels:
The Erlanger Value Lines track the intraday range of resistance, pivot and support used by Algo/HFT Traders. Each day we show where we closed within the range. Updated through 8/13 close. EVL Ranges are starting to get back to normal with the recent action but it is still haphazard. The Erlanger Value Line are available in Bloomberg for your review. Simply visit the Bloomberg App store at APP(GO) then find Erlanger Research and setup a trial.
Courtesy of Phil Erlanger Research, Inc.
August Empire State Manufacturing is due out at 8:30 a.m. EDT and is expected to fall to 15 from 17.2. Came in at 3.70.
August NAHB Housing Market Index is due out at 10:00 a.m. EDT and is expected to rise to 74 from 72.
Geopolitical & Related
President Trump will give an interview to Fox & Friends at 8:05 a.m. EDT. He then travels to Mankato, Minnesota where he speaks at 3:00 p.m. EDT and then heads to Oshkosh, WI where he speaks at 5:30 p.m. EDT.
The Democratic National Conventions begins virtually and in Milwaukee. It will run through Thursday night when Democratic Presidential Nominee Joe Biden accepts the nomination.
Investor Events & Conference Calls
Reserve Bank of Australia (RBA) is out with their latest minutes at 7:00 p.m. EDT.
PRPO (Conference Call) CTVA (Business Update) RMAX (Virtual Meeting)
Sellside Conferences: Santander Brazil Conference (8/17-8/21)
Industry Conferences: EnerCom Oil & Gas Conference (8/17-8/19).
Sanofi (SNY) to buy Principia Biopharma (PRNB) for $100 a share.